The decentralized perpetual exchange Hyperliquid, operating on its own layer of blockchain, has officially submitted comments to the U.S. Commodity Futures Trading Commission (CFTC) regarding 24/7 derivatives trading.
On May 23, in a post on X, Hyperliquid Labs announced that it has "submitted two comment letters to the CFTC in response to its recent request for comments on perpetual derivatives and 24/7 trading." The team behind this decentralized exchange (DEX) added:
"We commend the CFTC for its proactive engagement on these topics, as understanding these issues is crucial for the development of global markets."
Hyperliquid stated its commitment to advancing the development of decentralized finance (DeFi). The team also claimed that its implementation "demonstrates how core DeFi principles can be applied in practice to enhance market efficiency, market integrity, and user protection."
Source: Hyperliquid
CFTC Commissioner Summer Mersinger recently stated that crypto perpetual futures contracts could be "approved for regulation in the U.S. very soon." She mentioned that perpetual crypto futures "could be listed right now."
"We have seen some applications, and I believe we will soon see some of those products start trading in real-time," Mersinger said. She also added, "It would be great to bring these trades back to the U.S."
Perpetual futures contracts are a type of derivative that allows traders to speculate on the price of crypto assets without owning them, similar to traditional futures but without an expiration date. Such contracts remain open indefinitely and are aligned with spot market prices through a funding rate mechanism, with periodic payments exchanged between long and short positions.
The crypto derivatives market has recently been flooded with announcements of product launches, acquisitions, and regulatory developments. Coinbase CEO Brian Armstrong recently stated that after acquiring the crypto derivatives platform Deribit, the exchange will continue to seek merger and acquisition opportunities.
Armstrong's comments came after Coinbase agreed to acquire Deribit, one of the largest crypto derivatives trading platforms globally. Europe's activity in the crypto derivatives sector is on par with that of the Americas.
Major crypto exchange Gemini has also recently received regulatory approval to expand crypto derivatives trading across Europe. Additionally, the DeFi platform Synthetix plans to further venture into the crypto derivatives space by re-acquiring the crypto options platform Derive.
Related: CFTC Commissioner Summer Mersinger: U.S. crypto perpetual futures will be "approved soon"
Original: “Hyperliquid Supports 24/7 Cryptocurrency Trading in CFTC Comment Request”
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